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artww2
April 9, 2020
Question

inventory

  • April 9, 2020
  • 1 reply
  • 0 views

what is considered inventory. As a Artist is my work considered inventory?

    1 reply

    AmyC
    AmyC
    April 9, 2020

    Yes, According to the IRS Publication 538 - Internal Revenue Service:

    An inventory is necessary to clearly show income when the production, purchase, or sale of merchandise is an income-producing factor.

     

    For more help:

    Small Business and Self-Employed Tax Center - complete guide

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